CSR Centre for Excellence
CSR Centre of Excellence (CSR – CoE) entailed with dedicated professionals having versatile experiences in industry and academics. They are widely acknowledged and are references in the field of CSR. The way India legitimated CSR – first of its kind in the world. This is a history. So far the New Companies Bill, CSR is mandatory.It is now embedded in the DNA of Indian business. To address this new development, for bridging the gap of human resources, CSR – CoE is actively working towards realising its vision of leveraging CSR to enhance and enable enterprise competitiveness in a market-driven environment. Through its activities, CSR –CoE already established an institutional framework that has taken a lead role in setting-up higher learning in CSR, MDPs, Research and professional facilitation for industry and civil society.
It is now mandated that the business is not just for profit, rather responsible business ensures inclusiveness of public interest, which in turn safeguards sustained development. That’s where India stands today.
This bill gives directions to Companies forspending minimum 2% of Profit After Tax ( PAT ) in CSR. Displaying the CSR Report in the public domain is a must. The bill also aims to have a dedicated ‘department’ supported by an independent director plus two other promoter directors. These directors shall be responsible and accountable for CSR activities and spending. Violating CSR norms will tantamount to penal actions. This reflects the great importance of CSR in Indian business.
From April 2013, listed 2073 Companies (plus 11,000 Industry) will be under the ambit of CSR; this will create more than INR 270 trillion (Rs. Twenty Seven Thousand crores)yearly. Apart from this, SEBI already enforced mandatory CSR for the 100 top listed Companies. Within next six months, with these unique instruments, CSR would emerge as one of the most vibrant departments for the 13,000 companies of India. India alone requires over 50,000 MBAs in CSR and more than 1,50,000 Certified and Trained Professionals in the coming years. This is literally unique compared to other opportunities of the business in India.
Interestingly, this year onwards organizations required trained human resources in CSR. With this development, to tackle the situation, India doesn’t have any dedicated Institution to cater the huge demand of CSR and its Human Resources. For managing CSR, an individual has to be academically exposed and professionally trained. Also to be intellectually groomed in perspective of CSR. This is purely an emerging academic viz. professional area of the Management in India.